#PI [Breaking News] Pi coin street stall economy has appeared on the streets of New York, and a Stanford PhD has been accused of being the "Blockchain butcher".

On May 20, 2025, an absurd scene unfolded in front of the Charging Bull statue on Wall Street in New York: Pi Network founder Nicholas Kokkalis set up a purple tent in the name of the "Stanford Blockchain Laboratory" to sell Pi coins to passersby, with a price tag boldly stating "1 Pi = 314159 dollars," which caught the attention of financial elites. Newbie trader Jack Smith lamented to reporters that just three days earlier, he had invested all his savings of 100 dollars in Pi coins, and now his account value had dropped to zero.
■ Street Farce: Tech Elites Transform into Street Vendors
A video captured by a witness shows Nicholas wearing a purple cloak with the "π" symbol, shouting through a megaphone: "Don't miss out on Bitcoin, don't miss out on Pi coin." His booth displayed a fake "Stanford University Technology Patent Certificate" and a PS-edited "photo" signed by Musk. Ironically, customers who scanned the code to purchase coins on the spot immediately received scam alert text messages from the Chinese police, stating: "The project has been classified as a financial scam by 37 countries worldwide."
■ The Tears of Retail Investors: The Harvesting Chain Behind the Evaporation of 100 Dollars
23-year-old Jack shuddered as he showed off his trading history: on May 17, he bought 31 Pi coins for $3.2 each, and by the 19th, the price had plummeted to $0.08. This is consistent with Chainalysis' on-chain data – one market maker created a fake boom through 200 fake accounts, resulting in daily withdrawals accounting for 83% of trading volume, directly siphoning out liquidity. Jack knelt on the steps of the New York Stock Exchange and shouted, "It's a game of cannibalism wrapped in Pi symbols!" "
■ Regulatory Iron Fist: The 47-story Dubai building becomes evidence
As the events unfolded, Interpol simultaneously disclosed that the Nicolas team used 23 billion yuan in illegal profits to purchase the 47-story "Pi Ecosystem Center" in Dubai, which has been sealed off. A large stash of cash, 23 Rolls Royces, and counterfeit "Nobel Blockchain Prize" trophies were found hidden inside the building. According to the Ministry of Public Security of China, the project caused losses for 35 million investors through 478 standardized scripts, with 94% of participants not receiving more than 1000 Pi coins.
■ Experts Warn: Free Mining is Actually Cognitive Slaughter.
Michael Green, a former Federal Reserve advisor, ripped apart the Pi coin brochure during a live broadcast on CNBC, pointing out that its "interstellar consensus algorithm" is actually a digital game built on Alibaba cloud servers, with a code plagiarism rate as high as 91%. Even more concerning is that the privacy data of 60 million users is circulating on the black market at a price of $0.3 per piece, precisely targeting scam calls for health products.
At this moment, Nicholas's street stall has been sealed off by SEC enforcement officers, and the π symbol on the purple promotional sign is distorted under the neon lights. After six years of the "mobile mining" craze, it has ultimately turned into a pile of shredded paper at the feet of Wall Street's bull market, following the collision of Blockchain technology and human greed.
(This article is compiled by the Economic Investigation Bureau of the Ministry of Public Security, Chainalysis on-chain analysis, and eyewitness testimonies. The image shows Jack kneeling. )#BTC #ETH